PACCAR (NASDAQ:PCAR) Shares Down 1.2%

PACCAR Inc (NASDAQ:PCARGet Free Report) shares fell 1.2% on Tuesday . The stock traded as low as $120.66 and last traded at $121.64. 336,389 shares changed hands during trading, a decline of 85% from the average session volume of 2,275,275 shares. The stock had previously closed at $123.10.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PCAR shares. Morgan Stanley started coverage on PACCAR in a report on Monday, January 8th. They issued an “overweight” rating and a $125.00 price objective on the stock. The Goldman Sachs Group boosted their price target on PACCAR from $93.00 to $106.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. raised their price objective on PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. TD Cowen upped their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. Finally, Truist Financial assumed coverage on shares of PACCAR in a research note on Thursday, March 14th. They issued a “hold” rating and a $117.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $109.39.

View Our Latest Research Report on PCAR

PACCAR Price Performance

The firm has a market capitalization of $63.10 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.89 and a beta of 0.92. The stock’s fifty day moving average price is $112.39 and its two-hundred day moving average price is $98.18. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCARGet Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.45. The business had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $1.76 EPS. Equities research analysts expect that PACCAR Inc will post 8.15 EPS for the current year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is 12.31%.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 4,829 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company’s stock, valued at approximately $584,739.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Harrie Schippers sold 5,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.27, for a total transaction of $511,350.00. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,589,751.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Todd R. Hubbard sold 4,829 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at approximately $584,739.12. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last 90 days. Corporate insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of PACCAR by 2.0% in the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after acquiring an additional 698,784 shares in the last quarter. State Street Corp raised its stake in shares of PACCAR by 49.0% during the 1st quarter. State Street Corp now owns 21,345,321 shares of the company’s stock worth $1,562,477,000 after buying an additional 7,020,923 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of PACCAR by 53.3% in the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after buying an additional 4,082,677 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of PACCAR by 0.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock valued at $730,116,000 after buying an additional 23,865 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of PACCAR by 6.0% in the third quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock valued at $471,079,000 after buying an additional 316,001 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Company Profile

(Get Free Report)

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.

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